Renexia reaches fin close for 30-MW Italian offshore wind project

February 26 (Renewables Now) - Renexia SpA has achieved financial close for a 30-MW offshore wind project in Italian waters that is considered to be the first in the Mediterranean Sea.

French investment bank Natixis SA (EPA:KN) said today that it has arranged a roughly EUR-82-million (USD 93.3m) debt package, including a term loan, a VAT financing and a stand-by facility.

The project in question involves installing 10 units of 3-MW Senvion turbines on monopile foundations near Italy’s Taranto harbour in the southern region of Apulia.

The news about the financial close was also announced by consultancy Mott MacDonald, which serves as owner’s engineer on the project. The firm noted that it will continue to support the owner and the sponsor in an ongoing role during construction.

The announcement says that manufacturing as part of the project has already begun and that offshore installation is expected to be carried out in late 2019. Completion is scheduled for early 2020.

In addition to the Taranto project, Mott MacDonald is also working with Renexia on an offshore wind development in the US state of Maryland. Earlier this month it was announced that the Italian renewables firm’s fully-owned unit US Wind had appointed Natixis Securities Americas LLC as the sole and exclusive financial advisor for the 268.8-MW Maryland offshore wind project, which will require a total investment of USD 1.6 billion (EUR 1.41bn). This wind park is seen to enter into service in 2021.